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Net Income per Common Share | 12 Months Ended
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Mar. 31, 2026
Earnings Per Share [Abstract] |
Net Income per Common Share | Net Income per Common Share Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assume that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share until such time that it is probable that the performance target will not be met. The reconciliations of the denominators used to calculate basic net income per common share and diluted net income per common share for fiscal 2026, 2025, and 2024, respectively, are as follows:
|  | Year Ended March 31, 2026 |  | Year Ended March 31, 2025 |  | Year Ended March 31, 2024
Basic net income per common share |  |  |  |  |  |
Net income |  | $ | 44,571 |  |  | $ | 53,515 |  |  | $ | 51,588 |
Weighted-average common shares outstanding |  | 32,540,731 |  |  | 33,707,804 |  |  | 33,670,861 |
Basic net income per common share |  | $ | 1.37 |  |  | $ | 1.59 |  |  | $ | 1.53 |
|  | Year Ended March 31, 2026 |  | Year Ended March 31, 2025 |  | Year Ended March 31, 2024
Diluted net income per common share |  |  |  |  |  |
Net income |  | $ | 44,571 |  |  | $ | 53,515 |  |  | $ | 51,588 |
Weighted-average common shares outstanding |  | 32,540,731 |  |  | 33,707,804 |  |  | 33,670,861 |
Common share equivalents: |  |  |  |  |  |
Stock options issued |  | 21,821 |  |  | 27,784 |  |  | 29,295 |
Restricted and performance stock units issued |  | 237,464 |  |  | 322,651 |  |  | 366,831 |
Weighted average shares outstanding – dilutive |  | 32,800,016 |  |  | 34,058,239 |  |  | 34,066,987 |
Diluted net income per common share |  | $ | 1.36 |  |  | $ | 1.57 |  |  | $ | 1.51 |
For the year ended March 31, 2026, 2025, and 2024, 1,820, zero, and 4,706 shares of equity awards, respectively, were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect. Share Repurchase Program In fiscal 2024, we announced the authorization of a share repurchase program by the Company’s board of directors of up to $50,000 of the Company’s outstanding shares of common stock, exclusive of any fees, commissions or other expenses related to such repurchases (the "Repurchase Program"). On May 22, 2025, the Company announced that the board of directors had refreshed the authorization back to $50,000. The Repurchase Program does not include a specific timetable or price targets, except for the expiration of the Repurchase Program by May 15, 2027, and may be suspended or terminated at any time. Shares under the current repurchase program may be purchased through open market or privately negotiated transactions at the discretion of management, including through the use of trading plans intended to qualify under Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended. During fiscal 2026, we purchased 601,125 shares at a weighted average price of $26.21. During fiscal 2025, we purchased 694,025 shares at a weighted average price of $28.99. At March 31, 2026, $38,463 remained authorized under the repurchase program. We record shares of common stock repurchased at cost in treasury stock, resulting in a reduction of stockholders’ equity in the consolidated balance sheets.

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